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2/ Describe the steps that Rowen should take in order to define and analyze its target
market for eyeglass frames more effectively.
By combining the suggestions from Fisk (2018) and Kraly (2017), Rowen should practice
those below steps sequentially to target its market for eyeglass frames sections more effectively.
1. Identifying the pain and the customer base Rowen should begin the process of targeting
market by understanding the problems that the business solves and broadly defining
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targeted audience of its product. Why do potential customers buy eyeglass frames? On
what specific occasions would those customers wear eyeglasses? Do they wear
eyeglasses only when they have eye disorders? Which features of Rowen’s frames would
stand out from their competitors in terms of dealing with the same problems? By asking
themselves a mass of questions, Rowen would identify the basis needs of customers.
2. Research the competition This is not a monopolist industry and there are not many
businesses that are dominances of the eyeglass frames market. Therefore, researching the
competitors, regarding both direct rivals like other plastic frames manufacturers and
substitute competitors like metal frames, is a necessary step, helping point out the unique
benefits of its products, target the market more precisely, and support the marketing plan
more effectively.
3. Determining targeted demographics The goal of marketing is not only to retain current
customers but also to attract new ones who have the likelihood of being customers. Thus,
targeting the market aims to all persons who are being and would be suffered from the
identified problems. Having considered based on all demographic aspects such as
location, gender, education level, income level, age, and ethnic background, Rowen can
reduce unapproachable customers and be better identify the types of leads.
4. Analyzing the psychographics After classified target market in terms of demographics,
Rowen needs to group their leads based on personal characteristics like hobbies, buying
behaviours, lifestyles. That information would be much useful in defining and satisfying
different market segments well.
5. Making and evaluating a decision Based on information having been gathered and
analyzed, the specific groups of potential are founded. The final step Rowen does is that
choosing which segments Rowen would most focus on and market to. However, the other
groups should be not ignored or paid less attention because all of them have possibility of
generating sales and profits. They just differ in the degree of profit production.
3/ Considering the approximate resources of the company, how can Rowen change its
operations to meet the continuously changing needs of its target market?
In my opinion, the first action Rowen has to implement in dealing with customers' preferring
metal frames is that re-conducting another survey. The last survey did not provide sufficient and
helpful information. It merely showed that metal frames have been more popular than plastic
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ones. The next survey should focus on the reasons why metal frames gradually possess
customers' interest, and which specific features make metal frames outstanding than plastic
frames. Thereby, Rowen is able to improve and innovate its plastic eyeglass frames, meeting the
change in customers’ demands. In addition, Rowen can highlight the benefits of plastic eyeglass
frames, comparing to metal frames in terms of durability, price, weight, to re-attract its
customers, backing its sales on the past track.
Furthermore, to increase sales, Rowen needs to diversify the product lines to satisfy other
market segments, not only focusing on men's designs. Rowen can do research and manufacture
eyeglass frames for women who much more consider the fashion industry. Or Rowen can
produce colorful frames for children or unique designs for costume festivals. Besides, Rowen has
to expand its market geographically to increase brand awareness as well as revenue. Rowen's
potential customers do not live or work in the western provinces. Rowen should make every
effort in seeking and selling its plastic frames to wholesalers across the country and even
globally.
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References
Fisk, Phil. “7 Steps To Defining Your Target Market.” Coastline Marketing Group, 26 February
2018, https://coastlinemarketinggroup.com/2018/02/26/7-steps-to-defining-your-target-
market/. Accessed 16 July 2021.
Kraly, Anton. “6 Steps to Identifying Your Target Market.” Business 2 Community, 25 January
2017, https://www.business2community.com/marketing/6-steps-identifying-target-
market-01758502. Accessed 16 July 2021.
Lake, Laura. “What Is Target Market Identification?” The Balance Small Business, 24 October
2020, https://www.thebalancesmb.com/what-is-target-market-identification-2295569.
Accessed 16 July 2021.
Lamb, Charles W., et al. MKTG. 4th ed., Nelson Education, 2019.
Lilyquist, Mindy. “Understanding and Defining a Target Market.” The Balance Small Business,
23 January 2020, https://www.thebalancesmb.com/target-market-defined-1794389.
Accessed 16 July 2021.
Saikia, Dhurba P. “Marketing Mistake: Not identifying your Correct Target Market.” eTech
Duniya, https://www.etechduniya.com/2020/09/marketing-mistake-wrong-targeting.html.
Accessed 16 July 2021.